Credit, Collections & Insolvency News
Retail sales in the UK have declined for the third consecutive month in August, although the rate of decline has eased, according to the Confederation of British Industry’s (CBI) latest Distributive Trades Survey. Retailers reported “poor” sales volumes and anticipate a continued decline in September, albeit at a slower pace. As a result, many retailers…
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Data from Cornwall Insight’s newly launched Business Energy Cost Forecast has revealed that a typical small business such as a pub, restaurant or independent retailer is paying over £5,000 more a year in energy bills than prior to the energy crisis, with bills predicted to rise further from the April 2025 – March 2026 contract…
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Victims of economic abuse should find it easier to get help dealing with their creditors, as 25 banks and building societies have committed to accepting the Economic Abuse Evidence Form (EAEF), which could ease applicants’ trauma and provide the support they need . The new form, devised by Money Advice Plus (MAP), enables money and…
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New analysis by FreeAgent has found that late payments in the UK have increased by 49.3%, with the average late payment rate now higher than it was during the same period the previous year (43% in 2022-2023). Late payments are also higher than it was during the 2020 calendar year (46%), which suggests that the…
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A fifth of people (20%) over the age of 55 have consistently spent more than they’d expected to during their retirements so far, with an additional 11% expressing that this occurred early on in their retirement, according to new analysis by PensionBee. Daily living expenses emerged as the largest financial burden for retirees, with 28%…
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More than three-quarters (78%) of students fear how they will get through University as escalating bills, rent and prices pile pressure on their limited finances, research from Nationwide shows. Nationwide carried out a poll of 2,000 UK University students to understand better how students are managing their money. It revealed that while the average student…
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Fair for You has launched a new campaign with TV presenter Gail Porter in a bid to try to help six million people in furniture and appliance poverty. Porter, who fought back from crippling bankruptcy and homelessness, with data showing that six million people are living without an essential item like a washing machine or…
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Call centre technology platform TCN, has announced it has agreed a new partnership with water utility provider Apa Prod. Apa Prod, is a Romanian regional water and sewage provider serving over 70,000 B2B and B2C clients, being the water supplier for Hunedoara County in western Romania. Recent EU regulations have mandated that utility companies in…
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Oracle Car Finance, has raised over £50,000 for Martin House Children’s Hospice Oracle, located in Knaresborough, has been supporting the Wetherby charity for two years, and confirms the extension of their corporate partnership for a third consecutive year. Marking the beginning of their third year as a charity partner, the North Yorkshire-based finance broker welcomed…
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New figures published by KPMG UK’s mid-year Fraud Barometer show that money laundering has been the most common fraud type by value in the last six months. Nine cases have been heard in Crown Courts collectively worth £128.2 million so far this year. The research, which records alleged fraud cases with a value of £100k…
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